The Butler weekly times. (Butler, Mo.) 1881-1918, 1887-06-29

sleh bonds. when and as such hydrant rar,t.
hLs are payable by the said city and such sums
>haii oe Faiu 50 long as interest on such bonds
shall remain uue and unpaid. and the rnsyur
Is hereby authorized and instructed Ia siy; :
ceftihcate on the back of sail bonds certifying
10 the provisions of this contract and 10 ann
tHe stai 0 the clty TO such certificate but the
said city shall not be REQUIRED AT any ,ima -
pay to the said trustee or trustees any greater
amount than the amount due - said grantees
their associates, successors and assigns and
all payments made to said trns,ee or trn,,aas
snail be made exclusively TO paw interest on
salo bonds SO long as the same remains due and
unpala. anu any surplus not so payable AMI
the Whole after the interest on said bonds shall
have been paid by the said grantees their as
sociates. successors and assigns snail be paid
over by the said CITY to the said grantees their
associates, successors and assigns
SECTION l9. This ordinance is passed undar
the express condition and reservation that the
city OF butler reserves to itself the right to
acquire OF the said grantees their associates
successors and assigns the said water work a
and all the land and machinery, pines mains
MIGRANTS, property. privileges, rights, leases
said grantees, their associates, successors and
assigns in accepting this ordinance expressly
covenant and agree that they will sell and
convey to the city of Butler the said water
works and all the lands and machinery pipes
mains, hydrants, property, privileges rights
and leases and appurtenances thereto belong
ing at the expiration of ten Uo) years and at
any interval O. five years thereafter at an ap-
praised value of said works, not taking into
consideration the estimated value OF the fran
cnise at the at the time of the apprr rsement, to
be determined as fellows. Whenever the said
city shall determine or desire to purchase said
works the city council thereof shall give writ
ten notice to said grantees, their associates
successors and assigns of the intention of the
city to purchase at the expiration of said ten n
years or of the interval of live % years follow
ing said notice
Such notice shall be served at least one wear
prior to the expiration of said ten uo) years or
OF the interval of five (5l years and shall de-
mand of said grantees, their associates, sue
ccsaoTe and assigns to appoint and select two
persons to act as appraisers in hNing and ap-
praising the value OF such water works. which
notice may be served upon the said grantees
or any one of their associates, successors and
assigns or upon the chief 0Ihcer in charge of
said water wor S. Within thirty (30) days after
the date of the service of the said notice the
said grantees their associates successors and
assigns and the city shall each select two per
sons as appraisers; in case of tn" failure Of the
city to appoint two such appraisers such ap-
praisement shall be dee med thereby ended
The four appraisers thus chosen shall within
ten I0) days thereafter select a fifth which
hve - persons thus selected shall within thirty
500 days thereafter determine the cash COM
mercal value of said water works .nntincln'ing
value of franchise. In case the said grantees
thrir associates, successors and assigns shall
fail, neglect or refuse to select two such ap-
praisers within the time herein before required
or in case the four a. appraisers should neglect
or refuse to choose II fifth appraiser within the
time herein before required, then IN that or in
either case as may be the TWO appraisers or the
fifth appraiser may be appointed by the Judge
of the circuit court of the judicial district in
which the city shall be situated on the appH-
cation of the city council ten tlo} days
in writing to the said grantees, their associ-
ates, successors and assigns or to the chief
officer in charge of said water works, and in
case the said judge ofthe circuit court refuses or
neglects to make such appointment pro-
Vided then the mayor of the said city council
of Butler may make the same.
The persons selected as appraisers shall not
be residents of the city of Butler persons in
| tn. employ or interest of said city or Of the
said grantees. their as ociates, successors and
assigns. said five "a persons at a meeting OF
which all of them shall have personal notice
| may and shall. as appraisers, on examination
| and evidence, liN and determine the actual
value Of said water works and property o1
| every kind and description, not including
/ franchises, real estate, rights of way i'm.
! provement, buildings, betterments, machinery
| or other appliance placed by the said grantees
! their associates. successors and assigns upon
| or connected with the property and used foi
| the operation of said water works or which
may be leased to said grantees, their assori
ates successors and assigns by the said city
| and constituting part of said water works a
| the time such appraisement may be made
said appraisers shall state in writing in dHpii
cate the amount of their appraisal and shall
| deliver one duplicate to the said grantees ,thei
| associates, successors and igns or to th,
chief officer in charge of said water works il
| Butler and shall file the other with the cit,
clerk of said city within ten tI0l days afte
same is made. and the said city shall have tn
right within ninety 1901 days TO exercise tn